The Reserve Bank has constituted a committee under the Chairmanship of former MD and CEO of National Payments Corporation of India, Mr. A P Hota to examine various aspects of setting up a digital public infrastructure for Digital Payments Intelligence Platform. According to an official statement, RBI is mulling to set up a Digital Payments Intelligence Platform to mitigate payment fraud risks. The Committee is expected to give its recommendations

within two months.

RBI has said that even though the payment ecosystem which includes banks, NPCI, card networks, payment aggregators, and payment apps take various measures on an ongoing basis to protect customers from digital frauds, there is a need for network-level intelligence and real-time data sharing across payment systems to prevent such frauds in the future.

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